Paying off my cards

never-in-doubt

Tonylpool wrote: »

However, I have made them an offer of £325 which they have accepted in F&F provided it is paid in the next 21 days. I said that this offer is made on the basis that any other amount is written off as interest and that the default will be marked as 'paid in full'. They have not confirmed this in their letter however the fact that they have accepted the payment, can I assume that they have also accepted the terms made with it?

See here/Send this:

8. Default Removal - Offer of F&F Settlement
This letter would be sent to a creditor/DCA whom you want to pay, at an agreed amount, in exchange of a default against you.

Tonylpool wrote: »

Its just a small debt that I'd now like to clear. Would even a partially satisfied default dated December 2006 be much of a detrimental effect on my file?

The same damage an un-settled one does mate! No difference whatsoever so if you already have defaults, paying one debt off is a waste of time.

Tonylpool

never-in-doubt wrote: »

See here/Send this:



The same damage an un-settled one does mate! No difference whatsoever so if you already have defaults, paying one debt off is a waste of time.

Cheers NID, would the outstanding amount still hold me back in terms of repairing my credit file? My understanding was that my credit score would improve even at least if it was satisfied with a partial payment.

never-in-doubt

Tonylpool wrote: »

Cheers NID, would the outstanding amount still hold me back in terms of repairing my credit file? My understanding was that my credit score would improve even at least if it was satisfied with a partial payment.

Your credit mate, is dead for 6 years with ANY default. Who told you your score would improve? Its not true that's for sure mate - a default is still a default (i.e. derogatory data).....

As previously described, paying this right now will have no affect on your credit file so do not be suckered into believing such bollox.

Tonylpool

never-in-doubt wrote: »

Your credit mate, is dead for 6 years with ANY default. Who told you your score would improve? Its not true that's for sure mate - a default is still a default (i.e. derogatory data).....

As previously described, paying this right now will have no affect on your credit file so do not be suckered into believing such bollox.

Do you reckon I should just continue to pay my £2.11 agreement per month for the next 3 years until this default drops off my file?

The good thing is that it is only registered on my Callcredit report and not Equifax or Experian.

never-in-doubt

Tonylpool wrote: »

Do you reckon I should just continue to pay my £2.11 agreement per month for the next 3 years until this default drops off my file?

The good thing is that it is only registered on my Callcredit report and not Equifax or Experian.

LOL -for that amount I would mate especially if it means it stops them updating the other (main 2) CRA's

Tell me you don't only owe £72 though?

You do realise that even if the default drops off your credit files (after 6 years) BUT you still have a balance to the debt outstanding (not statute barred as you've been paying) that if you then suddenly cease paying they can obtain a CCJ which will add a further 6 years adverse data! :eek:

Just bear that in mind.....

Tonylpool

never-in-doubt wrote: »

LOL -for that amount I would mate especially if it means it stops them updating the other (main 2) CRA's

Tell me you don't only owe £72 though?

You do realise that even if the default drops off your credit files (after 6 years) BUT you still have a balance to the debt outstanding (not statute barred as you've been paying) that if you then suddenly cease paying they can obtain a CCJ which will add a further 6 years adverse data! :eek:

Just bear that in mind.....

No, the account balance is £508.94 of which they have accepted £325 in F&F. It was a HP agreement and £325 was the interest free amount.

As you correctly mention, I dont want to risk any further adverse data on this matter because it has been paid at the agreed amount of £2.11 for the past 3 1/2 years pro-rata to my other debts. I was just hoping that a satisfied default would lend some favourable information to my credit file.

Cheers

Tony